Equifax, a global data, analytics, and tech firm, has formed a strategic partnership with VTEX, a leading digital commerce platform.
This collaboration is aimed at bolstering fraud prevention capabilities for merchants worldwide.
The essence of this partnership lies in addressing the increasing challenges of e-commerce fraud. By integrating Equifax’s Kount Payment Fraud solution with the VTEX platform, the alliance enables real-time fraud protection for payment transactions, thereby safeguarding businesses without disrupting the customer checkout experience.
This integration leverages scalable AI-driven decision-making, access to a global network of digital and physical identity data, and robust analytics to enhance fraud detection capabilities.
Equifax brings to the table its rich heritage in fraud detection and prevention, underscored by the Kount Payment Fraud solution’s widespread adoption across more than 20,000 businesses in over 40 countries. This solution is designed to empower merchants with advanced tools to engage with customers securely while combating various forms of fraud.
On the other hand, VTEX is recognized as one of the world’s most trusted digital commerce platforms, serving 2,600 customers in 43 countries. The company’s commitment to providing its merchants with sophisticated anti-fraud tools is a testament to its dedication to cybersecurity and the sustainable success of its clients.
The partnership also highlights the increasing global need for effective fraud prevention measures in the e-commerce sector, with enterprise losses from online payment fraud projected to surpass $362bn between 2023 and 2028. By combining their strengths, Equifax and VTEX offer a proactive approach to minimizing fraud, protecting revenue, and ensuring secure payment experiences for customers around the globe.
As part of their collaborative efforts, the two companies have already seen significant success. Cody Stapleton, Co-CEO & Chief Commercial Officer at Jeffers Pet, highlighted the efficiency of integrating the Kount Payment Fraud Solution with the VTEX platform, noting that it swiftly addressed a critical cybersecurity gap, becoming operational within just one hour.
“While merchants can benefit from the rapid adoption of e-commerce to achieve significant revenue growth, they’re also faced with increased rates of digital fraud and chargebacks,” stated Adam Gunther, Senior Vice President and General Manager of the Digital Solutions team at Equifax. Santiago Naranjo, CRO at VTEX, also emphasized the partnership’s importance, saying, “Our partnership isn’t just about protection; it’s about continued prosperity of customers worldwide.”
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